Most important concepts in a nutshell
Landlords may rent their properties either directly or through a rental agency. Vuokraturva is a market leader in renting properties in the Helsinki region and a member of the National Association of Real Estate Agents (Suomen Kiinteistönvälittäjäliitto). When you give an assignment to Vuokraturva, we take care of everything for you. You do not have to go through the trouble of looking for a tenant or worry if everything is legally correct in the tenancy agreement or if you can safely give your property to the tenant that you have chosen.
The process of renting your property through Vuokraturva starts with our agent and you signing a written agreement on renting your property. Vuokraturva’s assignments are always in keeping with good rental agency practices. This means that our assignments always meet the legal regulations concerning rental property agencies. The agreement is always made in two identical copies, one for each contracting party.
Once you have authorised us to rent your property, we will actively start marketing it and looking for a tenant. Our service includes the inspection of the property, estimate of the right rent level, marketing the property, arrangement of viewings, checking applicants’ backgrounds, negotiating and making the rental agreement, handing over the keys and checking that the security deposit is in order. As an extra assurance of the quality of our work, you will be provided a Vuokraturva-sopimus guarantee, i.e. an additional rent guarantee for the first year, in addition to the normal rent security deposit.
Tenancy agreement and duration of tenancy
It is important to know the laws regulating tenancy agreements. For the landlord, it is wise to remember that the terms and conditions of the tenancy agreement must comply with the law regulating property rental and with good practices. If you authorise Vuokraturva to rent your property, Vuokraturva will prepare the tenancy agreement for you and you can be sure that it contains nothing contrary to the law.
A tenancy agreement may be in force until further notice or for a fixed period. If the tenancy agreement is valid for a fixed period, the termination date is specified in the agreement and the tenancy will end on the specified date with no separate notice required. A tenancy agreement for a fixed period is binding on both the parties for the entire period. On special occasions only, the tenant may apply to court for the right to terminate a fixed-term tenancy agreement.
The most common tenancy agreement alternative is one that is in force until further notice. Provided the agreement does not contain special conditions concerning the first possible date for giving notice, both the parties can give notice to the other party whenever they want as long as they comply with the stipulations and times of notice defined in the Finnish Act on Residential Leases.
When the tenancy agreement is valid until further notice, the times of notice are as follows: If the landlord gives notice before the tenancy agreement has been in force for a year, the period of notice is three (3) calendar months. After one year, the period of notice is six (6) calendar months for the landlord. If the tenant gives notice, the time is always one (1) calendar month. If you want that an agreement that is in force until further notice is valid for at least a certain period, it is possible to state the first possible date for giving notice. When you authorise Vuokraturva to prepare the rental agreement, you can agree with our agent on the first possible date of notice to be included in the tenancy agreement.
Nowadays, a security deposit is required almost without exception. The purpose of the security deposit is to prevent problems during the tenancy and to help the landlord deal with possible problems more easily. The security deposit can be agreed to cover more than just the payment of the rent; it can also cover possible damages to the property.
The parties can agree on the amount of the security deposit, but the usual amount is equivalent to two months’ rent. The maximum amount stipulated by law is 3 months’ rent. Today, the most common procedure is to pay the security deposit amount into the landlord’s bank account. Another possibility is that the tenant opens a security deposit account at his/her bank. The bank issues a security deposit certificate, which the tenant gives to the landlord.
When Vuokraturva takes care of renting your property, we ensure that the security deposit is in order at the time we hand over the keys to the tenant.
Notice must always be given to the other party in writing. When a landlord gives notice to a tenant, he/she must also state the reason for giving notice. The reason must be in keeping with good practices. Typical reasons include needing the premises for personal use or for family members, selling the property or changing the conditions of the agreement.
If the tenancy agreement is in force until further notice and the tenancy has lasted at least one year, the period of notice is 6 calendar months for the landlord. If the tenancy has lasted less than a year, the period of notice for the landlord is 3 calendar months. If the tenant gives notice, the period of notice is always 1 calendar month. The tenant does not need to state a reason for giving notice. Unless otherwise agreed, the period of notice starts from the last day of the month during which the notice is given. It is possible to state the earliest possible date from which the period of notice can begin in the tenancy agreement. More information about this can be found in “Tenancy agreement and duration of tenancy” above.
If necessary, Vuokraturva will help you with questions regarding the termination notice.
If you would like more information about the matters mentioned above or if you have other things on your mind concerning renting your property, you can order a free rental guide (In Finnish) or contact us personally. Call (09) 6877 550 or send an email to email@example.com